Radek Stech was pleased to participate in two panel discussions on ESG Impacts, and Regulatory Updates & Transparency, on September 13, 2022. The panels formed part of the 25th Anniversary European Beneficial Owners’ Securities Finance & Collateral Management Conference, hosted by IMN (Information Management Network). This was also an important anniversary for Global PSSL as, exactly four years ago, Radek Stech proposed the principles at the same IMN conference in London.
IMN appointed Dr Radek Stech (Global PSSL) and Roelof van der Struik (PGGM) as advisors for this conference.
Radek used his time to reflect on the changing dynamic of securities lending within broader financial markets and how a good governance approach (i.e. balanced between principles-based practices, regulation, and collaboration between stakeholders) was a key component in achieving transparency and success across all regions. Radek provided updates on the US Securities and Exchange Commission’s efforts to introduce more rules on transparent securities lending and ESG disclosures. Radek also attended a closed-door beneficial owners’ session, together with Fez Yousaf of NEST Corporation, as an observer.
The ESG panel was moderated by Travis Whitmore of State Street and included: Kevin Bourne of S&P Global Sustainable, Valentina Crovato of Euroclear Bank SA/NV, Xavier Bouthors of NN Investment Partners, and Simon Lee of eSecLending.
The regulatory panel was moderated by Verena Charvet of Merlys and included Matthew Johnson of The Depository Trust & Clearing Corporation (DTCC) and Simon Nottage of State Street Global Markets.
Reflecting on the conference, Radek Stech said, “Transparent and sustainable securities lending is not a utopian dream. This is a market recognising that it needs to co-operate in order to mature. By adopting a balance between jurisdictional regulation, principles, supervision, and innovative data solutions, stakeholders throughout the entire value chain may help moving securities lending towards greater transparency and sustainability.”
Verena Charvet, The Founder of Merlys added: “Securities lending has been subject to increasing regulation over the last few years. I am pleased to have moderated a panel that shed more light onto the interplay between regulation, principles, and the broader industry collaboration. I am also glad I could learn more about Global PSSL which is making a clear progress in balancing these factors for the benefit of the broader markets.”
About Global PSSL
The Global Principles for Sustainable Securities Lending (Global PSSL) is the fundamental global mechanism for aligning securities lending with sustainable finance. This voluntary initiative has been developed through years of research based engagement between Dr Radek Stech, representing the SFLS Network at Exeter Law School, prominent beneficial owners and several agent lenders and other stakeholders committed to positive change.
In order to preserve its impartiality, the Global PSSL framework is based within its own independent community interest company, led by Dr Stech.
For more information about IMN, see https://www.imn.org/